Sugarloaf Wealth Management LLC Sells 503 Shares of OGE Energy Corp. (NYSE:OGE)

Sugarloaf Wealth Management LLC cut its stake in OGE Energy Corp. (NYSE:OGE) by 15.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,777 shares of the utilities provider’s stock after selling 503 shares during the period. Sugarloaf Wealth Management LLC’s holdings in OGE Energy were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its holdings in OGE Energy by 83.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider’s stock valued at $3,947,000 after purchasing an additional 43,529 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of OGE Energy during the 4th quarter worth approximately $236,000. GAMMA Investing LLC lifted its position in shares of OGE Energy by 24.9% during the 4th quarter. GAMMA Investing LLC now owns 5,483 shares of the utilities provider’s stock worth $226,000 after buying an additional 1,093 shares during the period. Inspire Trust Co. N.A. boosted its stake in OGE Energy by 18.8% in the 3rd quarter. Inspire Trust Co. N.A. now owns 107,570 shares of the utilities provider’s stock valued at $4,413,000 after buying an additional 17,000 shares in the last quarter. Finally, Synovus Financial Corp grew its position in OGE Energy by 19.9% in the third quarter. Synovus Financial Corp now owns 19,291 shares of the utilities provider’s stock valued at $791,000 after acquiring an additional 3,197 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.50.

Insider Buying and Selling at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

OGE Energy Stock Down 2.6 %

NYSE:OGE opened at $39.78 on Friday. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 3.80 and a beta of 0.77. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The stock’s fifty day moving average price is $42.11 and its two-hundred day moving average price is $40.09. OGE Energy Corp. has a 52-week low of $32.06 and a 52-week high of $44.41.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.20 EPS. On average, analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a yield of 4.24%. OGE Energy’s payout ratio is presently 87.05%.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.